The workers assemble R1 vehicles of the second generation in the production facility of Electric car manufacturer Rivian in normal, Illinois, on June 21, 2024.
Joel Angel Juarez | Reuters
Rivian Automotive On Tuesday, the Wall Street expectations defeated for the first quarter and confirmed his winning goals of 2025, but had negative his goals of 2025 for vehicle deliveries and capital expenditure in the middle of President Donald Trump's tariffs.
The manufacturer of electric vehicles said that he was “not immune to the effects of global trade and the economic environment”, although he produced all trucks and SUVs in the USA in a factory in Illinois.
“The current global economic landscape is a considerable uncertainty, especially with regard to the development of trade rules, guidelines, tariffs and the general effects that these items can have on consumer mood and demand,” said the company in its quarterly letter to the shareholders.
Claire McDonough, Chief Financial Officer from Rivian, said that the company is expected to be “a few thousand dollars” additional expenses per vehicle as a result of tariffs, including a tariff of 25% for imported auto parts that do not correspond to the trade agreement of the US Mexico Canada.
Rivian's new guidelines include deliveries of 40,000 units and 46,000 units, a range of 46,000 units and 51,000 units and investment expenses between 1.8 and 1.9 billion US dollars, compared to previous instructions between USD 1.6 billion and $ 1.7 billion.
Rivian confirmed the plans to achieve a “modest positive gross profit” this year and $ 1.7 to $ 1.9 billion of $ 1.9 billion in front of interest, taxes, depreciation and amortization after the results of Wall Street had taken over the expectations of Wall Street.
The company carried out in the first quarter compared to average estimates that were put together by LSEG:
- Loss per share: 41 cents expected compared to a loss of 76 cents
- Revenue: 1.24 billion US dollars are expected compared to $ 1.01 billion
Remarkably, the car manufacturer achieved its second quarter in the first quarter as a result of the gross profit Volkswagen Group As part of his investment in Rivian after the formation of her joint venture Rivian and the VW Group Technology LLC.
Rivian achieved a gross profit that comprises production and sales, but did not take any other spending of 206 million US dollars into account in the first quarter. This is compared to 170 million US dollars in the fourth quarter.
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Rivian, Lucid and Tesla shares
The joint venture was announced last year as part of a 5.8 billion dollar offer, which includes the financing of Rivian and VW using the software and the electrical architecture of the electric vehicle manufacturer.
Rivian said it ended the first quarter with a liquidity of $ 8.5 billion, including $ 7.2 billion in cash, cash equivalents and short-term investments.
The results of the company in the first quarter were supported by an increase in sales of the automotive regulatory credits of $ 157 million or around half of the $ 300 million expected for the year as well as an increase in software and service income of $ 38 million compared to $ 88 million in the previous year in the previous year.
On a untouched basis, Rivian restricted his losses to 541 million US dollars in the first quarter. This is $ 743 million compared to around 1.5 billion US dollars in the previous year and in the fourth quarter.
Rivian produced 14,611 of his electric delivery vans and “R1” SUVs and pickup trucks in the first quarter. During this period, it delivered 8,640 vehicles.
The car manufacturer re -confirmed on Tuesday that production in the second half of the year is likely to be lower, since Rivian Idle in Illinois will be changed for about a month to prepare for his new “R2” product.
The smaller SUV of 45,000 US dollars is expected to enter into production in the first half of the next year. Rivian sits on the less expensive R2 to revive demand.
Rivian's results compared to the EV rival compared to competition Clear groupThe results mixed on Tuesday reported in the first quarter, while he confirmed his production instructions of 2025 of around 20,000 vehicles and investment expenditure of $ 1.4 billion.
According to LSEG estimates, Lucid reported a loss of 20 cents per share compared to an expected loss of 23 cents and a turnover of $ 235 million compared to an expected USD 249 million.
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